Oct 31, 2024 / 08:30AM GMT
Benedikt Gislason - Arion banki hf - Chief Executive Officer
Good morning all and a warm welcome to the presentation of our third quarter results.
We are very pleased to present solid financial results for the third quarter with a return on equity of 16.1% and particularly pleased to see how well our insurance business were performed in the period, delivering one of the strongest quarters in the company's history and all the segments of our core operations also performed strongly and produced excellent results and we delivered on all our financial targets in the quarter except on capital where we continue to be over capitalized despite our efforts in recent quarters to normalize the capital stock through dividends and buybacks.
So further substantial normalization is to be expected going into next year as we continue to move closer to our financial target there through dividends, additional dividends and share buybacks.
This year, we paid a dividend of ISK13 billion and have conducted buybacks of shares worth ISK12.5 billion. And the pace for next year could be somewhat higher
Q3 2024 Arion banki hf Earnings Call Transcript
Oct 31, 2024
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